Menswear sales boost Burberry

By Holly Williams
Published on 11/07/2012 21:44

Luxury goods group Burberry posted a 6 per cent hike in underlying sales today thanks to higher prices and strong demand for its men’s clothing ranges.

But shares came under pressure as the like-for-like figure missed City expectations and as it noted “more challenging” trading conditions in its financial first quarter.

Burberry’s total revenues were 11 per cent higher at £408 million in the three months to 30 June.

It said men’s tailoring continued to perform strongly after a 26 per cent leap in menswear sales during its last financial year, while the group added there was a “further increase in average selling prices, driven by product innovation”.

Despite recent fears of a slowdown in Asia, Burberry confirmed “double-digit” comparable sales growth in China.